Save with Ireland

The emergency decision by the Irish government to guarantee the safety of all deposits in six of its main savings institutions for two years may give UK savers a great opportunity. If you want somewhere secure to put your cash during the current financial crisis, then opening an account with any of the six looks like a very good idea.

So far the gamble looks like paying off in the short term. What I took to be “a pebble in the stream” may become a veritable flood. Pressure is mounting on the British and other European governments to do something similar. Gordon Brown is repeating the mantra that hell  do what it takesand is increasing the savings guarantee from 35k to 50k but this may not be enough. He’s plainly reluctant to make a move which comes within a hairs breadth from nationalising of all British banks. Thats Tuesday evenings position anyway. Tomorrow is a new day.